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NOTES

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A4002C

Suggested Citation:

U.S. Bureau of Economic Analysis, Gross Domestic Income: Compensation of Employees, Paid [GDICOMP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDICOMP, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

All Employees: Total Nonfarm, commonly known as Total Nonfarm Payroll, is a measure of the number of U.S. workers in the economy that excludes proprietors, private household employees, unpaid volunteers, farm employees, and the unincorporated self-employed. This measure accounts for approximately 80 percent of the workers who contribute to Gross Domestic Product (GDP).

This measure provides useful insights into the current economic situation because it can represent the number of jobs added or lost in an economy. Increases in employment might indicate that businesses are hiring which might also suggest that businesses are growing. Additionally, those who are newly employed have increased their personal incomes, which means (all else constant) their disposable incomes have also increased, thus fostering further economic expansion.

Generally, the U.S. labor force and levels of employment and unemployment are subject to fluctuations due to seasonal changes in weather, major holidays, and the opening and closing of schools. The Bureau of Labor Statistics (BLS) adjusts the data to offset the seasonal effects to show non-seasonal changes: for example, women's participation in the labor force; or a general decline in the number of employees, a possible indication of a downturn in the economy. To closely examine seasonal and non-seasonal changes, the BLS releases two monthly statistical measures: the seasonally adjusted All Employees: Total Nonfarm (PAYEMS) and All Employees: Total Nonfarm (PAYNSA), which is not seasonally adjusted.

The series comes from the 'Current Employment Statistics (Establishment Survey).'

The source code is: CES0000000001

Suggested Citation:

U.S. Bureau of Labor Statistics, All Employees, Total Nonfarm [PAYEMS], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PAYEMS, May 8, 2021.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Chained 2012 Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A191RX

Real gross domestic product is the inflation adjusted value of the goods and services produced by labor and property located in the United States.For more information see the Guide to the National Income and Product Accounts of the United States (NIPA). For more information, please visit the Bureau of Economic Analysis.

Suggested Citation:

U.S. Bureau of Economic Analysis, Real Gross Domestic Product [GDPC1], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDPC1, May 8, 2021.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Index 2012=100, Seasonally Adjusted

Frequency:  Quarterly

Notes:

BEA Account Code: A191RD

The number of decimal places reported varies over time. A Guide to the National Income and Product Accounts of the United States (NIPA).

Suggested Citation:

U.S. Bureau of Economic Analysis, Gross Domestic Product: Implicit Price Deflator [GDPDEF], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDPDEF, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Consumer Price Index  

Units:  Index 1982-1984=100, Seasonally Adjusted

Frequency:  Monthly

Notes:

The "Consumer Price Index for All Urban Consumers: All Items Less Food & Energy" is an aggregate of prices paid by urban consumers for a typical basket of goods, excluding food and energy. This measurement, known as "Core CPI," is widely used by economists because food and energy have very volatile prices. The Bureau of Labor Statistics defines and measures the official CPI, and more information can be found in the FAQ or in this article.

Suggested Citation:

U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average [CPILFESL], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CPILFESL, May 8, 2021.

Source: U.S. Bureau of Economic Analysis  

Release: Personal Income and Outlays  

Units:  Index 2012=100, Seasonally Adjusted

Frequency:  Monthly

Notes:

BEA Account Code: DPCCRG
A Guide to the National Income and Product Accounts of the United States (NIPA).

Suggested Citation:

U.S. Bureau of Economic Analysis, Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index) [PCEPILFE], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/PCEPILFE, May 8, 2021.

Source: U.S. Bureau of Economic Analysis  

Release: Gross Domestic Product  

Units:  Billions of Dollars, Seasonally Adjusted Annual Rate

Frequency:  Quarterly

Notes:

BEA Account Code: A191RC

Gross domestic product (GDP), the featured measure of U.S. output, is the market value of the goods and services produced by labor and property located in the United States.For more information, see the Guide to the National Income and Product Accounts of the United States (NIPA) and the Bureau of Economic Analysis.

Suggested Citation:

U.S. Bureau of Economic Analysis, Gross Domestic Product [GDP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/GDP, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

Persons 16 years of age and older.

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS11000000

Suggested Citation:

U.S. Bureau of Labor Statistics, Civilian Labor Force Level [CLF16OV], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CLF16OV, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS12000012

Suggested Citation:

U.S. Bureau of Labor Statistics, Employment Level - 16-19 Yrs. [LNS12000012], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS12000012, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Percent, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS14000012

Suggested Citation:

U.S. Bureau of Labor Statistics, Unemployment Rate - 16-19 Yrs. [LNS14000012], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS14000012, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS12000036

Suggested Citation:

U.S. Bureau of Labor Statistics, Employment Level - 20-24 Yrs. [LNS12000036], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS12000036, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Percent, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS14000036

Suggested Citation:

U.S. Bureau of Labor Statistics, Unemployment Rate - 20-24 Yrs. [LNS14000036], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS14000036, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS12000089

Suggested Citation:

U.S. Bureau of Labor Statistics, Employment Level - 25-34 Yrs. [LNS12000089], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS12000089, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Percent, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS14000089

Suggested Citation:

U.S. Bureau of Labor Statistics, Unemployment Rate - 25-34 Yrs. [LNS14000089], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS14000089, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

The civilian noninstitutional population is defined as: persons 16 years of age and older residing in the 50 states and the District of Columbia, who are not inmates of institutions (e.g., penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces.

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS12000000

Suggested Citation:

U.S. Bureau of Labor Statistics, Employment Level [CE16OV], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/CE16OV, May 8, 2021.

Source: Board of Governors of the Federal Reserve System (US)  

Release: H.15 Selected Interest Rates  

Units:  Percent, Not Seasonally Adjusted

Frequency:  Weekly, Ending Wednesday

Notes:

Averages of daily figures.

For additional historical federal funds rate data, please see Daily Federal Funds Rate from 1928-1954.

The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. When a depository institution has surplus balances in its reserve account, it lends to other banks in need of larger balances. In simpler terms, a bank with excess cash, which is often referred to as liquidity, will lend to another bank that needs to quickly raise liquidity. (1) The rate that the borrowing institution pays to the lending institution is determined between the two banks; the weighted average rate for all of these types of negotiations is called the effective federal funds rate.(2) The effective federal funds rate is essentially determined by the market but is influenced by the Federal Reserve through open market operations to reach the federal funds rate target.(2)
The Federal Open Market Committee (FOMC) meets eight times a year to determine the federal funds target rate. As previously stated, this rate influences the effective federal funds rate through open market operations or by buying and selling of government bonds (government debt).(2) More specifically, the Federal Reserve decreases liquidity by selling government bonds, thereby raising the federal funds rate because banks have less liquidity to trade with other banks. Similarly, the Federal Reserve can increase liquidity by buying government bonds, decreasing the federal funds rate because banks have excess liquidity for trade. Whether the Federal Reserve wants to buy or sell bonds depends on the state of the economy. If the FOMC believes the economy is growing too fast and inflation pressures are inconsistent with the dual mandate of the Federal Reserve, the Committee may set a higher federal funds rate target to temper economic activity. In the opposing scenario, the FOMC may set a lower federal funds rate target to spur greater economic activity. Therefore, the FOMC must observe the current state of the economy to determine the best course of monetary policy that will maximize economic growth while adhering to the dual mandate set forth by Congress. In making its monetary policy decisions, the FOMC considers a wealth of economic data, such as: trends in prices and wages, employment, consumer spending and income, business investments, and foreign exchange markets.
The federal funds rate is the central interest rate in the U.S. financial market. It influences other interest rates such as the prime rate, which is the rate banks charge their customers with higher credit ratings. Additionally, the federal funds rate indirectly influences longer- term interest rates such as mortgages, loans, and savings, all of which are very important to consumer wealth and confidence.(2)
References
(1) Federal Reserve Bank of New York. "Federal funds." Fedpoints, August 2007.
(2) Board of Governors of the Federal Reserve System. "Monetary Policy".

Suggested Citation:

Board of Governors of the Federal Reserve System (US), Effective Federal Funds Rate [FF], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/FF, May 8, 2021.

Source: U.S. Bureau of Labor Statistics  

Release: Employment Situation  

Units:  Thousands of Persons, Seasonally Adjusted

Frequency:  Monthly

Notes:

The series comes from the 'Current Population Survey (Household Survey)'

The source code is: LNS12024230

Suggested Citation:

U.S. Bureau of Labor Statistics, Employment Level - 55 Yrs. & Over [LNS12024230], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/LNS12024230, May 8, 2021.

RELEASE TABLES

Consumer Price Index

Employment Situation

Employment Situation

Gross Domestic Product

H.15 Selected Interest Rates

Personal Income and Outlays

RELATED CONTENT

Related Resources

Other Formats

Gross Domestic Income: Compensation of Employees, Paid

Annual, Not Seasonally Adjusted Millions of Dollars, Quarterly, Not Seasonally Adjusted

All Employees, Total Nonfarm

Monthly, Not Seasonally Adjusted

Real Gross Domestic Product

Annual, Not Seasonally Adjusted Quarterly, Not Seasonally Adjusted Index 2012=100, Quarterly, Not Seasonally Adjusted Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate Percent Change from Quarter One Year Ago, Quarterly, Not Seasonally Adjusted Percent Change from Quarter One Year Ago, Quarterly, Seasonally Adjusted

Gross Domestic Product: Implicit Price Deflator

Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate

Consumer Price Index for All Urban Consumers: All Items Less Food and Energy in U.S. City Average

Monthly, Not Seasonally Adjusted Semiannual, Not Seasonally Adjusted

Personal Consumption Expenditures Excluding Food and Energy (Chain-Type Price Index)

Percent Change from Quarter One Year Ago, Quarterly, Seasonally Adjusted

Gross Domestic Product

Annual, Not Seasonally Adjusted Annual, Not Seasonally Adjusted Index 2012=100, Quarterly, Not Seasonally Adjusted Millions of Dollars, Quarterly, Not Seasonally Adjusted Percent Change from Preceding Period, Annual, Not Seasonally Adjusted Percent Change from Preceding Period, Quarterly, Seasonally Adjusted Annual Rate

Civilian Labor Force Level

Monthly, Not Seasonally Adjusted

Employment Level - 16-19 Yrs.

Monthly, Not Seasonally Adjusted

Unemployment Rate - 16-19 Yrs.

Monthly, Not Seasonally Adjusted

Employment Level - 20-24 Yrs.

Monthly, Not Seasonally Adjusted

Unemployment Rate - 20-24 Yrs.

Monthly, Not Seasonally Adjusted

Employment Level - 25-34 Yrs.

Monthly, Not Seasonally Adjusted

Unemployment Rate - 25-34 Yrs.

Monthly, Not Seasonally Adjusted

Employment Level

Monthly, Not Seasonally Adjusted

Effective Federal Funds Rate

Daily, Not Seasonally Adjusted Daily, Not Seasonally Adjusted Monthly, Not Seasonally Adjusted

Employment Level - 55 Yrs. & Over

Monthly, Not Seasonally Adjusted

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